Thursday, April 17, 2014 - 11:29:27 AM

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Business Owners Skeptical of Start-Up NY

With the state saying the new Start-Up New York program will cost New York $323 million through March of 2017, some owners of existing businesses are sharpening their criticism.
Start-up New York allows new businesses to avoid paying taxes for up to 10 years by setting up shop on SUNY campuses, all in an effort to spur economic growth, especially Upstate. But owners of established companies say they're paying the freight for these startups.

"It's taking money out of current businesses that are paying their share, paying their taxes, paying their worker's comp, paying the high utility bills. And now we're being asked to subsidize other businesses. It just does not seem fair," said Sam Lupo, Co-Owner of Sam A. Lupo and Sons.

"Even though unemployment rates have decreased over the last quarter it's not because jobs have increased. It's because the population has decreased. This idea could help bring population back to the Southern Tier," said BU President Harvey Stenger.

According to the State Division of Budget, the state is being conservative in it's projections and not counting for the program's potential benefits, something it won't do until it gets data once Start-Up NY is underway.


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